In the fourth quarter, Visma delivered revenue of NOK 1 765 million, compared with NOK 1 544 million during the same period last year, an increase of 14.3 percent. The EBITDA came in at NOK 360 million, compared with NOK 277 million in the fourth quarter 2013, representing an increase of 29,8 percent. Net cash flow from operations after tax in the Q4 was NOK 346.1 million versus NOK 315.7 million last year.

Continuously demand for SaaS solutions

The demand for SaaS and cloud computing are steadily increasing. The growth in SaaS revenue was 24 percent in the fourth quarter 2013 compared to Q4 2012, reaching NOK 173 million. SaaS products are growing at a rate several times higher than on-premises products. The strongest growth was in the e-invoice/business network segment where over 50 percent growth is being achieved.

– Visma’s R&D focus and acquisition strategies are concentrated on SaaS. We experience an increasing demand for SaaS solutions and we expect to complete several SaaS focused acquisitions during Q1 2014, says Øystein Moan, CEO of Visma.

Acquisition activity - increasing market shares in Finland

In November, Visma acquired Information Factory, a provider of SaaS/mobile solutions for the Retail sector. In the first weeks of 2014, Visma also acquired Priorite Group a Finnish, public sector focused, consulting business. Furthermore, Visma acquired Finnvalli, a leading Finnish ERP vendor. This underpins Visma’s strong focus and position in the Finnish market.